tag:blogger.com,1999:blog-20551805.post7136472200494627344..comments2024-01-04T17:49:08.211-05:00Comments on One World, One Mind, One Heart: The S***'s Already Hit the Fan: Here Comes the ShiftGary Stamperhttp://www.blogger.com/profile/13750503453297842748noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-20551805.post-10915414460818663112009-01-18T13:12:00.000-05:002009-01-18T13:12:00.000-05:00Gary, I am Kelly grrl's husband. I agree with most...Gary, I am Kelly grrl's husband. I agree with most everything you posted. <BR/><BR/>I would like to meet you one day and just talk as I do some graphic design and play music..so maybe we could connect some.<BR/><BR/>Here is some of my take:<BR/><BR/>People are losing their jobs left and right, then everyone gets on unemployment, next homes get foreclosed. If you lose your home you don't pay your other bills, i.e. credit cards, student loans, vehicles, etc... Then you don't shop at your local mall outlets, they can't make the bills and little by little the stores pull out of the malls, the owners can't make their payments, then commercial loans start going to foreclosure. <BR/>so you have a nation of homeless, unemployed people with bad credit...homes sitting empty, many of which are damaged and not winterized. <BR/>How the government plans to keep throwing money at the problem to keep the system moving is beyond me. That is like paying your car payment with your credit card, it works for a while....<BR/><BR/>Then lets look at the upside....say the economy does pick up (say 4-5 years down the road ha), people get back to working..now you have a job, but no credit to buy a house or car does the government step in and say...."well we will allow these people a variance because......?) <BR/><BR/>Where are the breaks for the few that are paying their bills, and are hanging in there? If the government would step in and say pay off peoples student loans, or maybe some mortgages or anything, put some money back in the pockets of working people, maybe we could keep our system of consumerism rolling with the few that are employed.<BR/><BR/>I personally do not see a good outlook, I believe we are in the first throws of the next depression, by mid summer we will see the dollar tanking, and more people homeless and unsure of what to do or where to go.....and the crash of the dollar is world wide also so you really can't run or hide.<BR/><BR/>We as caring and rational people need to help our neighbors, communicate with people, don't live in fear, it is change and adventure.<BR/>Stock up some food now. While many think food is expensive now...with inflation it will go higher, much higher.<BR/><BR/>Just a rant but again I agree with your commentswncbrokershttps://www.blogger.com/profile/09532413036412088613noreply@blogger.comtag:blogger.com,1999:blog-20551805.post-82048792486571555642008-10-13T00:20:00.000-04:002008-10-13T00:20:00.000-04:00May you die today so that I die tomorrow<A HREF="http://slark1.blogspot.com/2008/07/may-you-die-today-so-that-i-die.html" REL="nofollow"><I>May you die today so that I die tomorrow</I></A>slarkhttps://www.blogger.com/profile/01271714950094142457noreply@blogger.comtag:blogger.com,1999:blog-20551805.post-41636422013448681322008-10-12T07:49:00.000-04:002008-10-12T07:49:00.000-04:00Thanks, David. Great articles, both. Thanks for th...Thanks, David. Great articles, both. Thanks for the links. However, I still disagree about Reagan. Reagan's "Trickle-down economics," came about due to the significant cuts in the upper tax brackets. There was a massive increase in Cold War related defense spending that caused large budget deficits, the U.S. trade deficit expansion, and contributed to the Savings and Loan crisis, as well as the stock market crash of 1987. In order to cover new federal budget deficits, the United States borrowed heavily both domestically and abroad, raising the national debt from $700 billion to $3 trillion, and the United States moved from being the world's largest international creditor to the world's largest debtor nation. Reagan himself described the new debt as the "greatest disappointment" of his presidency. These policies seem to have set the stage for the great ponzi schemes that subsequently followed, beginning with the S&L crisis.Gary Stamperhttps://www.blogger.com/profile/13750503453297842748noreply@blogger.comtag:blogger.com,1999:blog-20551805.post-4753438978492334632008-10-11T23:31:00.000-04:002008-10-11T23:31:00.000-04:00Great essay Gary, thank you. Another commentary on...Great essay Gary, thank you. <BR/><BR/>Another commentary on the current economic situation is Herman Daly writing on the "Credit Crisis, Financial Assets, and Real Wealth," posted at The Oil Drum. Professor Daly is a former senior economist for the World Bank, before leaving to teach Ecological Economics at the University of Maryland. He's known for a next paradigm concept of "Steady State Economics".<BR/><BR/>He writes in part:<BR/>"The current financial debacle is really not a “liquidity” crisis as it is often euphemistically called. It is a crisis of overgrowth of financial assets relative to growth of real wealth—pretty much the opposite of too little liquidity. Financial assets have grown by a large multiple of the real economy—paper exchanging for paper is now 20 times greater than exchanges of paper for real commodities. It should be no surprise that the relative value of the vastly more abundant financial assets has fallen in terms of real assets. Real wealth is concrete; financial assets are abstractions—existing real wealth carries a lien on it in the amount of future debt. The value of present real wealth is no longer sufficient to serve as a lien to guarantee the exploding debt. Consequently the debt is being devalued in terms of existing wealth. No one any longer is eager to trade real present wealth for debt even at high interest rates. This is because the debt is worth much less, not because there is not enough money or credit, or because “banks are not lending to each other” as commentators often say."<BR/>http://www.theoildrum.com/node/4617<BR/><BR/>By the way, Paul Craig Roberts argues that Reagan is not to blame for the current crisis. He has some interesting points.<BR/>http://www.informationclearinghouse.info/article20955.htm<BR/><BR/>David MacLeodAnonymousnoreply@blogger.com